Truth be told: the culture of those institutions is based on extremely synthetic virtue-signalling and superficial values and is very far from being meritocrati

Truth be told: the culture of those institutions is based on extremely synthetic virtue-signalling and superficial values and is very far from being meritocratic or open to social mobility. This might be great for rich kids, though in case you are ambitious, clever, gritty but come from not-so-privileged background (not necessarily low-class or third world - just temporary economic turmoil is enough) - you are going to hate every single second you spend there with all your heart. So maybe this way it is a win-win in the end. The aristocracy get their titles and the plebs their opportunities for self-realisation. No harm done.